Friday, January 23, 2009

Nothing But Muggers In Sharp Suits

I have absolutely no problem with people getting a bonus when they are part of a team that helps a company make a profit. I myself had part of my overall compensation in the form of a bonus based on earning goals. During my last year with the company I did not get any bonus because we didn't meet our earnings goals, which was fair enough, so this business with Merill-Lynch just really frosts me. Now we find out that these criminals(that is the correct word) paid out $15 BILLION in bonuses last year with nearly $4 BILLION of it in December. What really makes this insane is that this comes on the heels of news that the former CEO spent $1.2m on decorating his office. Click on the link and see the details of the remodel including the 87 grand for a freaking area rug.

They have the nerve to try and tell us that they had to pay out this money to "retain" top talent. What a laugh. If you work on Wall Street you are lucky to just have a job. I'd sure like to know where all this "top talent" would go if they didn't get their big bonus. To pile lie upon lie they are also insisting that this wasn't tax payer money from the $20 Billion bailout. Hello, money is fungible people. This is really despicable and the government should demand the bailout money back. You can read more here.

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